RP Group plans $1bn UAE project investment
Dubai, February 10, 2014
RP Group of Companies, a diversified global business conglomerate with strong business interests in the Gulf region and India, has announced ambitious growth plans, including Dh4 billion ($1 billion) worth of investment in new hotel and mixed-use projects in the UAE.
These new projects will create more than 25,000 new jobs in the region, complementing the efforts of GCC governments to drive employment generation, reported the Gulf Daily News, our sister publication, citing the RP Group of Companies founder and chairman Dr Ravi Pillai.
Underscoring the strong growth achieved by the group across its diverse businesses, Dr Pillai said this year's new development pipeline includes four new projects in the UAE, including a three million sq/ft integrated mega-project in Dubai, which will feature a five-star hotel, serviced apartments, elegant residences and a dedicated retail precinct.
Other new projects in the UAE also include a five-star luxury hotel in Dubai Marina to be operated by Crowne Plaza; a high-end four-star hotel in Bur Dubai operated by India's ITC Group; and a dedicated serviced apartment complex near Downtown Dubai.
RP Group is also immediately opening two full-fledged offices in Kuwait and Oman, where the company is currently finalising contracts in the oil and gas sector, as well as two hotel projects in Saudi Arabia, the details of which will be announced in due course, said the report.
"RP Group recorded robust growth last year, led by the positive performance of the regional economies," said Dr Pillai.
"We are thankful to the support and guidance of the regional governments, which have outlined clear development visions with the goal of energising the economy and creating new jobs.
"We are committed to partner in the socio-economic growth of the Gulf economies through our development projects that add tremendous value."
"The focus of our expansion programmes is to further strengthen our footprint both in oil and gas and non-oil sectors, thus effectively partnering with the growth strategy of the regional governments. This is reflected in our new developments in Dubai, which is currently further investing in the hospitality sector as part of the infrastructure development programmes in preparation to host the World Expo 2020.
Dr Pillai said the opening of the full-fledged offices in Kuwait and Oman follows the signing of new oil and gas sector contracts in the countries, where RP Group plans to expand significantly.
"We see tremendous opportunity in both Kuwait and Oman, where we are currently focusing on oil and gas sector projects. To lead these projects, we are setting up stronger local operational bases and hiring new employees, and both offices will open this year."
Further strengthening its regional presence, particularly in the non-oil sector, RP Group is building two new 5 Star Deluxe Hotels in Jubail and Dammam, Saudi Arabia, where the overall business growth has led to stronger demand for hotels and serviced apartments.
"This is an exciting period of growth, and we are consolidating our strengths in fields such as contracting, construction, hotels and oil and gas, in which we have proven competencies. Our new expansion plans are envisaged to support the local economies and catalyse social and economic development," added Dr Pillai.
Across all projects announced by RP Group, the focus will be on optimising resource use, maximizing productivity and bringing truly world-class project development skills.-TradeArabia News Service